The Real Estate Syndication Show WS1570: Doing Deals With Zero Debt | Joel Friedland
How do you recover from a big challenge, like a recession? How does your mental health affect your business decision-making? In this first episode of our two-part series with successful real estate entrepreneur Joel Friedland, he answers these questions and more! Joel uncovers the secret of how to do deals with zero debt and describes this as how the rich do business.
Joel kickstarts the show by sharing that he’s been in the industrial real estate industry for over four decades now. He then shares the lessons he learned from his mentors in the industry, the reason why he only does real estate deals with zero debt, and how he can do that. He also discusses how relationships matter most to him, how knowing the details of your offering book can spell a difference, and even his mental health scale. Listen now to this very informative and inspiring episode!
Key Points From This Episode:
- Joel shares that he started in the industry as an industrial real estate broker.
- How did Joel get involved in the industrial real estate industry himself?
- Joel talks about how he learned about syndication.
- How did Joel raise money as he was starting his syndication business?
- How did Joel move forward during the lowest point in his real estate journey?
- Joel emphasizes the importance of taking care of your mental health.
- Why does Joel do deals now with zero debt?
- Joel discusses the kind of investors that he has.
- How does Joel gauge in making a decision?
- Joel discusses his mental health scale.
Tweetables:
“Industrial is a closed community, pretty much. It's people who get in and get trained by people already in the business, which is what happened with me.”
“Mental health really affects how people make decisions. If you're mentally healthy. I think you think through what the consequences are going to be of your decisions. But if you're not mentally healthy, and you're elevated, and you think you're really hot, you might go make some decisions that have very dire consequences, because you're not thinking clearly.”
“What matters most to me are the relationships. The money is really important, but I love it when I can pick up the phone and call someone who's got a connection or is in a business and I can help somebody by knowing somebody.”
“I believe, with solid mental health, not being high on life, not making decisions impulsively, I have a thi
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